Powell says it’s ‘highly unlikely’ the Fed will raise rates this year, despite stronger economy – By Jeff Cox (CNBC) / April 12 2021
- Fed Chairman Jerome Powell has reaffirmed the central bank’s commitment to keep loose monetary policy in place.
- “I think it’s highly unlikely that we would raise rates anything like this year,” Powell told “60 Minutes.”
Despite what he sees as a rapidly recovering economy, Federal Reserve Chairman Jerome Powell has reaffirmed the central bank’s commitment to keep loose monetary policy in place.
That includes a statement of near-certainty that interest rates won’t be going anywhere as inflation remains tame and millions of Americans remain in need of assistance as the nation rebuilds from the damage caused by the Covid-19 pandemic.
“I think it’s highly unlikely that we would raise rates anything like this year,” Powell told CBS “60 Minutes” journalist Scott Pelley in an interview broadcast Sunday evening.
“I’m in a position to guarantee that the Fed will do everything we can to support the economy for as long as it takes to complete the recovery.”
